Every farmer and rancher knows his or her business is a never-ending balancing act between profit/loss and income/expenses. The ongoing quandary is made even more difficult because so much is out of your control -- weather, geopolitical and economic factors, farm policy, war and more. Some years are worse. Other years better. All add to the volatility and uncertainties of growing food for your livelihood.
So many unknowns fuel the boom/bust cycles that define agriculture. Sustaining a profitable business in this economic environment requires your operation to be on solid footing to withstand the highs and lows.
If you're asking yourself whether you're headed in the right direction, then you need to register for the 2023 DTN Virtual Ag Summit. "Fortify Your Financial Foundation" is this year's theme, and the summit will be held Dec. 5 through 6, 2023.
During two fast-paced mornings, you can get advice and insights from some of agriculture's best right from your home or office. Each day will wrap up before noon. There's no need to spend time away from the farm or incur the expense of food and lodging. We will bring the DTN Ag Summit to you.
We're putting together the final agenda and speakers, but you can be sure our summit will match the same exceptional program you've come to expect from DTN. Katie Dehlinger, DTN Farm Business Editor, will again be your host over the course of the two mornings.
Program highlights will focus on timely topics influencing your bottom line. Financial experts will address rising interest rates, fluctuating inflation and other factors that are chipping away at profit margins and causing bankers and loan officers to demand new benchmarks and criteria when reviewing your books. Other speakers will take a broader, global view of economic indicators to discuss potential obstacles and red flags that could hinder the success of your business.
Two panels will tackle topics you won't want to miss. One will be comprised of representatives from top farm-management and farm real estate companies along with an investment firm. They will look at the current and future outlook for farmland prices and the many factors that could drive values higher -- or lower. A second panel will take a deep dive into equipment technology and automation. They will discuss how high-tech solutions are changing farming in ways unimaginable just a few years ago and the challenges this may present in adopting them.
DTN Farm Policy Editor Chris Clayton will provide invaluable insights on the legislative agenda on Capitol Hill and the debate about passing a new farm bill. Will farm legislation be delayed because of a highly partisan Congress and the upcoming presidential election? Chris will help explain it all so you can more easily make your business plans for the 2024 season.
Other DTN experts will also share their perspectives. Lead Analyst Todd Hultman will provide his grain market forecast. Todd gives a big-picture viewpoint, looking at both domestic and global factors that will affect supply and demand, and consequently, prices. Ag Meteorologist John Baranick will preview what to expect in weather this winter and into the planting season and beyond. Will El Nino or La Nina prevail in the months ahead? John will have the answers and explain what it means for precipitation and temperatures in your region.
Finally, you'll meet the latest class of America's Best Young Farmers and Ranchers. They will inspire you as they share their dreams of building successful farming businesses.
I hope you will plan to join us for the 2023 DTN Virtual Ag Summit, Dec. 5-6.
Visit https://www.dtn.com/… to register and get more details on the agenda.
-- For more information, visit https://www.dtn.com/…
-- Write Gregg Hillyer, 2204 Lakeshore Dr., Suite 415, Birmingham, AL 35209, email email@example.com, or follow Gregg on X (formerly Twitter) @GreggHillyer
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